Latest news with #SaumilGandhi
News18
19 hours ago
- Business
- News18
Gold snaps 5-day losing run; climbs Rs 700 to Rs 98,520/10 g
Agency: New Delhi, Jul 30 (PTI) Cutting short the five-day losing streak, gold prices rebounded by Rs 700 to Rs 98,520 per 10 grams in the national capital on Wednesday due to fresh buying by stockists, according to the All India Sarafa Association. On Tuesday, the precious metal of 99.9 per cent purity had closed at Rs 97,820 per 10 grams. In the national capital, gold of 99.5 per cent purity increased Rs 650 to Rs 98,200 per 10 grams (inclusive of all taxes) on Wednesday. The yellow metal had settled at Rs 97,550 per 10 grams in the previous market close. 'Gold prices in the domestic market showed healthy gains on the back of a sharp fall in the rupee. The rupee depreciated due to a jump in crude oil prices and uncertainty about the US-India trade deal," Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said. On Wednesday, the rupee depreciated 52 paise to close at 87.43 (provisional) against the US dollar on uncertainty over the India-US trade deal after US President Donald Trump hinted at tariff rates of around 20-25 per cent ahead of the August 1 deadline. Additionally, silver prices climbed by Rs 1,000 to Rs 1,14,000 per kilogram (inclusive of all taxes) on Wednesday. It had traded flat at Rs 1,13,000 per kg on Tuesday, as per the Sarafa Association. On the global front, spot gold is trading flat at USD 3,330.33 per ounce. 'Gold is trading flat…as investors await a slate of key US macroeconomic data, including Q2 GDP, ADP employment, pending home sales, and Federal Open Market Committee (FOMC) interest rate decision. 'While the Fed is widely expected to keep rates unchanged, markets are closely watching for guidance on the policy outlook, especially amid intense political pressure and mixed economic signals," Kaynat Chainwala, AVP-Commodity Research at Kotak Securities, said. However, spot silver is trading lower at USD 38.09 per ounce in the overseas markets. 'Investors will also be closely watching for US Federal Reserve Chair Jerome Powell's commentary for any forward-looking cues. 'Further, the GDP data will offer fresh insight into the strength of the American economy and potentially influence the Fed's tone going forward," Abans Financial Services' Chief Executive Officer Chintan Mehta said. PTI HG HG SHW view comments First Published: July 30, 2025, 16:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
3 days ago
- Business
- Time of India
Gold rate today: Gold falls Rs 500 to Rs 98,020/10g in Delhi; silver slips Rs 1,000 amid easing tariff fears
Gold prices declined by Rs 500 to Rs 98,020 per 10 grams in the national capital on Monday, marking the fourth straight day of losses, as investor demand weakened after a trade deal between the US and the European Union reduced safe-haven interest. The data was released by the All India Sarafa Association. On Saturday, gold of 99.9% purity had settled at Rs 98,520 per 10 grams, already down Rs 600 from the previous session. On Monday, gold of 99.5% purity dropped to Rs 97,750 per 10 grams (inclusive of all taxes) from Rs 98,520 on Saturday, PTI reported. Silver prices also retreated sharply, declining by Rs 1,000 to Rs 1,13,000 per kilogram (inclusive of all taxes), from Rs 1,14,000 per kg in the previous session. In global markets, spot gold and silver traded flat at $3,337.95 and $38.17 per ounce, respectively. 'Gold traded in a positive but flat range near $3,335 per ounce, as strength in the dollar index limited gains last week,' said Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities. The recent US-EU trade agreement, which includes a 15% tariff on most European goods entering the US alongside EU commitments to invest heavily in American industries, has contributed to the price pressure. A similar agreement was signed with Japan last week. 'Bullion prices declined last week due to a drop in demand for safe-haven assets amid easing tariff concerns,' said Saumil Gandhi, Senior Analyst – Commodities, HDFC Securities, as quoted PTI. Chintan Mehta, CEO of Abans Financial Services, added that market participants will be closely watching upcoming US macroeconomic data, including jobless claims and Q2 GDP figures. President Donald Trump's recent reassurance on the independence of the US Federal Reserve and a softened stance toward Fed Chair Jerome Powell have further buoyed the US dollar, Gandhi noted. 'Both factors contributed to the rise in the US dollar, which has risen for the third consecutive day and is negatively impacting precious metal prices,' he said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Print
6 days ago
- Business
- The Print
Gold falls Rs 500 to Rs 99,120/10 g; silver trades flat
At the local markets, gold of 99.5 per cent purity also decreased Rs 500 to Rs 98,750 per 10 grams (inclusive of all taxes) on Friday as against the previous closing level of Rs 99,250 per 10 grams. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had finished at Rs 99,620 per 10 grams on Thursday. New Delhi, Jul 25 (PTI) Gold prices extended losses for the second straight day, by declining Rs 500 to Rs 99,120 per 10 grams in the national capital on Friday, amid easing global trade tensions and dampening the safe-haven demand. 'Gold edged lower on Friday impacted by easing tariff-related concerns, a rebound in the US dollar, and waning expectations for multiple interest rate cuts by the US Federal Reserve due to a strong job market,' Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities. However, silver prices traded flat at Rs 1,15,000 per kilogram (inclusive of all taxes) on Friday, as per the association. Gandhi further highlighted that the US has already secured a trade deal with Japan, and there is optimism surrounding the US-EU trade agreement. Additionally, the US is expected to have trade pacts with India, Mexico, and Brazil, which may further increase selling pressure in bullion. Spot gold fell by USD 20.72 or 0.62 per cent to USD 3,347.94 per ounce in the international markets. 'Gold traded weak at USD 3,345 per ounce, as expectations of tariff deals between the US and trade partners like Japan and the EU reduced safe-haven appeal. 'These developments may keep gold volatile, especially at elevated levels. Focus now shifts to the upcoming Fed's interest rate decision next week, which will be crucial for the direction of bullion prices,' Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, said. On the global front, spot silver slipped by 0.35 per cent to trade at USD 38.92 per ounce. PTI HG HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
6 days ago
- Business
- Time of India
Gold rate today: Yellow metal slips Rs 500 to Rs 99,120/10g in Delhi; global cues weigh, silver holds steady
Gold rate today : Gold prices fell for the second consecutive session on Friday, dropping Rs 500 to Rs 99,120 per 10 grams in Delhi's bullion market amid easing global trade tensions and a decline in safe-haven demand, according to the All India Sarafa Association. The precious metal of 99.9% purity had settled at Rs 99,620 per 10 grams in the previous session. Gold of 99.5% purity also dropped by Rs 500 to Rs 98,750 per 10 grams (inclusive of all taxes), compared with the previous close of Rs 99,250 per 10 grams, PTI reported. "Gold edged lower on Friday impacted by easing tariff-related concerns, a rebound in the US dollar, and waning expectations for multiple interest rate cuts by the US Federal Reserve due to a strong job market," said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities. Meanwhile, silver prices traded flat at Rs 1,15,000 per kilogram in the national capital, the association said. Gandhi added that the recently concluded trade deal between the US and Japan and optimism surrounding similar agreements with the EU, India, Mexico and Brazil have added to the selling pressure in bullion markets. In the international market, spot gold fell by $20.72 or 0.62% to $3,347.94 per ounce. "Gold traded weak at $3,345 per ounce, as expectations of tariff deals between the US and trade partners like Japan and the EU reduced safe-haven appeal. These developments may keep gold volatile, especially at elevated levels," said Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities. Trivedi said market participants will now focus on next week's interest rate decision by the US Federal Reserve, which is expected to guide bullion prices in the near term. Spot silver internationally slipped 0.35% to $38.92 per ounce. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
News18
6 days ago
- Business
- News18
Gold falls Rs 500 to Rs 99,120/10 g; silver trades flat
Agency: New Delhi, Jul 25 (PTI) Gold prices extended losses for the second straight day, by declining Rs 500 to Rs 99,120 per 10 grams in the national capital on Friday, amid easing global trade tensions and dampening the safe-haven demand. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had finished at Rs 99,620 per 10 grams on Thursday. At the local markets, gold of 99.5 per cent purity also decreased Rs 500 to Rs 98,750 per 10 grams (inclusive of all taxes) on Friday as against the previous closing level of Rs 99,250 per 10 grams. 'Gold edged lower on Friday impacted by easing tariff-related concerns, a rebound in the US dollar, and waning expectations for multiple interest rate cuts by the US Federal Reserve due to a strong job market," Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities. However, silver prices traded flat at Rs 1,15,000 per kilogram (inclusive of all taxes) on Friday, as per the association. Gandhi further highlighted that the US has already secured a trade deal with Japan, and there is optimism surrounding the US-EU trade agreement. Additionally, the US is expected to have trade pacts with India, Mexico, and Brazil, which may further increase selling pressure in bullion. Spot gold fell by USD 20.72 or 0.62 per cent to USD 3,347.94 per ounce in the international markets. 'Gold traded weak at USD 3,345 per ounce, as expectations of tariff deals between the US and trade partners like Japan and the EU reduced safe-haven appeal. 'These developments may keep gold volatile, especially at elevated levels. Focus now shifts to the upcoming Fed's interest rate decision next week, which will be crucial for the direction of bullion prices," Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, said. On the global front, spot silver slipped by 0.35 per cent to trade at USD 38.92 per ounce. PTI HG HVA view comments First Published: July 25, 2025, 16:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
